aceBarclays to cut 5,000 jobs as bank’s bosses hail AI productivity advances
Barclays is cutting 5,000 jobs as part of wider cost-cutting plans that its bosses say are being driven by advances in AI. The job cuts will mean losing about 5% of the bank’s 93,000 global staff, with executives confirming they had already cut 1,000 workers since the start of the year. The bank’s chief financial officer, Anna Cross, told reporters on Thursday that the job cuts were part of plans to save more than £1.1bn in 2027. “These actions involve an expected reduction of circa 5,000 full-time employees. Ar…
Barclays expects to lose about 5,000 full-time roles, mostly in support functions including developers, as executives cite AI making remaining staff more productive.
The source does not say how many of the 5,000 cuts are directly attributable to AI; the chief executive credited broader technology investment and process simplification for most efficiency gains so far.
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- JournalismThe Guardian2026-10-22
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Truvace Impact Record TRV-2026-2151, v1: “Barclays to cut 5,000 jobs as bank’s bosses hail AI productivity advances.” Truvace, 2026-10-22. /record/TRV-2026-2151 (accessed at citation time). sha256 97802f9a482c2601…
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